ALPS/RED ROCKS Correlations

LPERX Fund

USD 3.05 -0.03 -0.97%

Current 90-days correlation between Alpsred Rocks Listed and Qs Moderate Growth is 0.68 (i.e., Poor diversification).Because correlations between assets tend to spike during market dislocations, the apparent diversification benefit of holding ALPS/RED ROCKS alongside other equities may be lower in practice than historical averages suggest.

Market Correlation - ALPS/RED ROCKS

Very weak diversification

For the present investment horizon, the measured correlation between LPERX and DJI stands at 0.57, or Very weak diversification. Used correctly, the chart supports evaluation of whether adding the second position genuinely diversifies the first.

Review Correlation Analysis for context on portfolio diversification. The diversification view provides additional analytical depth. Portfolio construction reflects how positions are combined across holdings. This suggests a position in Alpsred Rocks Listed. The position sits inside the allocation mix. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with ALPS/RED Mutual Fund

0.77	INAAX	Alpskotak India Growth	Pair Corr
0.78	INFCX	Alpskotak India Growth	Pair Corr
0.78	INDAX	Alpskotak India Growth	Pair Corr
0.78	INDIX	Alpskotak India Growth	Pair Corr
0.78	INDSX	Financial Investors Trust	Pair Corr
1.0	LPEIX	Alpsred Rocks Listed	Pair Corr
0.98	LPFAX	Alpsred Rocks Listed	Pair Corr
1.0	LPEFX	Alpsred Rocks Listed	Pair Corr

Moving against ALPS/RED Mutual Fund

0.82	JCCSX	ALPS/CORECOMMODITY	Pair Corr
0.81	JCRAX	Alpscorecommodity	Pair Corr
0.81	JCRCX	ALPS/CORECOMMODITY	Pair Corr
0.81	JCRIX	ALPS/CORECOMMODITY	Pair Corr
0.59	SMASX	Alpssmith Short Duration	Pair Corr
0.53	SMDSX	Alpssmith Short Duration	Pair Corr
0.52	SMCMX	Alpssmith Short Duration	Pair Corr
0.38	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.37	SMTRX	Alpssmith Total Return	Pair Corr
0.36	SMCHX	Alpssmith Total Return	Pair Corr
0.36	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.34	RAGIX	Riverfront Asset	Pair Corr
0.89	LSHUX	Horizon Spin Off	Pair Corr
0.89	LSHEX	Kinetics Spin Off	Pair Corr
0.89	LSHAX	Horizon Spin Off	Pair Corr
0.88	LSHCX	Horizon Spin Off	Pair Corr
0.85	EKWDX	Wells Fargo Advantage	Pair Corr
0.58	PYCRX	Payden California	Pair Corr
0.55	GFSDX	Columbia Dividend Income	Pair Corr
0.42	SMTHX	Alpssmith Total Return	Pair Corr
0.33	RLGCX	Riverfront Dynamic Equity	Pair Corr

Related Correlations Analysis

	EVFMX	TAAMX	FHRVX	TRLNX	SMOAX	DRIWX	SCGCX
EVFMX		0.99	0.84	0.88	0.79	0.75	0.94	EVFMX
TAAMX	0.99		0.86	0.91	0.78	0.78	0.97	TAAMX
FHRVX	0.84	0.86		0.95	0.96	0.94	0.82	FHRVX
TRLNX	0.88	0.91	0.95		0.87	0.89	0.91	TRLNX
SMOAX	0.79	0.78	0.96	0.87		0.9	0.7	SMOAX
DRIWX	0.75	0.78	0.94	0.89	0.9		0.75	DRIWX
SCGCX	0.94	0.97	0.82	0.91	0.7	0.75		SCGCX
	EVFMX	TAAMX	FHRVX	TRLNX	SMOAX	DRIWX	SCGCX

Risk-Adjusted Indicators

Surface-level performance for ALPS/RED Mutual Fund can mask how the business actually stacks up against its competitive set. Without reviewing risk-adjusted indicators, investors may overweight recent returns and underweight the volatility required to achieve them. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EVFMX	0.62	0.17	0.26	0.16	0.53	-0.77	0.89	-1.13	9.33
TAAMX	0.43	0.08	0.24	0.09	0.45	-0.49	0.80	-0.89	5.28
FHRVX	0.25	0.03	0.24	0.02	0.34	-0.24	0.48	-0.67	1.68
TRLNX	0.63	0.11	0.13	0.04	0.84	-0.66	1.19	-1.51	5.43
SMOAX	0.23	0.04	0.28	0.07	0.29	-0.23	0.40	-0.56	1.49
DRIWX	0.34	0.08	0.29	0.16	0.29	-0.41	0.82	-0.66	4.67
SCGCX	0.54	0.07	0.14	0.02	0.66	-0.58	0.94	-1.17	4.64

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ALPS/RED ROCKS Correlations

Market Correlation - ALPS/RED ROCKS

Moving together with ALPS/RED Mutual Fund

Moving against ALPS/RED Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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